Dow futures accumulated more than 150 points late on Sunday before falling flat early on Monday, while S&P 500 futures and Nasdaq 100 futures were also largely unchanged, on COVID-19 vaccine news. Apple’s 4-for-1 share split takes effect on Monday and makes progress.
Scott Lehtonen for Investor’s Business Daily:
On Sunday, US Food and Drug Administration Commissioner Stephen Hahn said in an interview with the Financial Times that the FDA would be willing to circumvent the normal approval process to approve a coronavirus vaccine before Phase 3 studies are completed, provided the benefits outweigh the risks.
In the midst of the coronavirus stock market, the technically heavy Nasdaq is up 30.3% for the year to Friday. Meanwhile, the S&P 500 is up 8.6%, while DJIA is up 0.4% so far, up to and including 28 August.
Apple shares gathered less than 1% ahead of the stock’s first trading session after a four-for-one share split. Shares are trading at 3% of their split-adjusted high of 128.79 – set on 25 August.
Apple shares are about 73% above a cup-with-the-handle 72.15 buy point. The blue-chip giant is the Dow Jones stock No. 1 in 2020, with an advance of 70.0% until the end of Friday.
MacDailyNews Note: Apple is currently increasing $ 0.89 (+ 0.72%) to $ 125.70 per share in pre-market trading.